DARE

05/08/2026

Coffee shop owners urge sustained enforcement and greater transparency to curb illegal cigarette trade.

The Malaysia Singapore Coffee Shop Proprietors' General Association (MSCSPGA) calls for the public release of the Health Ministry's registry of legally registered cigarette brands, giving retailers and consumers a reliable way to verify legitimate products.

The association notes that illegal ci******es sell for less than half the price of legal products, costing the government an estimated RM5 billion in lost tax revenue annually.

KUALA LUMPUR: The Malaysia Singapore Coffee Shop Proprietors' General Association (MSCSPGA) has called for sustained enforcement against the illegal cigarette trade and greater transparency through the public release of the Health Ministry’s registry of legally registered cigarette brands.

24/07/2026

DARE Pickleball Tournament 2026

Where connections are built on and off the court.
Join fellow financial industry professionals for a day of friendly competition, meaningful networking, and great food & drinks.
We're especially keen to welcome investment bankers, alongside professionals from across the financial industry, for an afternoon of building new connections.

📅 8 August 2026 (Saturday)
⏰ 9:00 AM to 3:00 PM
📍 First Shot, Petaling Jaya

Interested in participating? Contact Kevin Chong at +6012 634 8802 to express your interest.

Participation is subject to eligibility and slot availability.

23/07/2026

While retail-level enforcement remains the standard response to illicit trade, the financial networks driving it remain largely obscured.

Recent data indicates that 68.8% of consumers identify foreign workers as the retail face of these operations, yet focusing only on the storefront creates a superficial understanding of a deeply structural issue.

The real challenge for policymakers lies in tracing the true source, meaning the financial masterminds and logistical planners who remain completely insulated from the physical point of sale.

Read more:

Malaysia faces a structural economic problem with a 57% illicit cigarette market share, primarily driven by migrant workers and tax disparities.

10/07/2026

Recent data reveals that a staggering 99% of consumers find illicit ci******es easy to buy, with 68.8% identifying foreign workers acting as frontline sellers.

While these workers face heavy fines and deportation, the syndicate kingpins continue to escape, bleeding the market dry.

Honest Malaysian micro-entrepreneurs who pay their taxes and follow the rules simply cannot compete with cheap, untaxed contraband.

Source:

This is with regard to the syndicates running the network in exchange for consideration in how their case is handled, according to the Indonesia-based civil society organisation (CSO) focused on advocacy for the rights of Indonesian migrant workers.

07/07/2026

According to recent data from S&P Global Ratings, over two-thirds of the data centre capacity currently under construction across Southeast Asia's major economies is concentrated right here in Malaysia.

While S&P projects our economy to expand by 4.9% in 2026 outperforming many regional peers, analysts warn that this initial lift is heavily construction and capital-expenditure-led rather than recurring.

The real test for Malaysia will be turning this short-term building boom into long-term digital value for our local industries.

Source: https://www.mida.gov.my/announcement-year/2026/

03/07/2026

FSGMAM calls for enforcement to target not just sellers but the licence holders who enable the illegal cigarette trade.

A recent survey found that 83.8% of illicit cigarette buyers purchased at sundry shops or Kedai Aceh, with 73% identifying migrant workers as the primary sellers.

The association warns that Malaysian licence holders who sublet their premises or act as proxies for illegal operations are enablers, not victims, and should face consequences.

Backing the call by Prime Minister Datuk Seri Anwar Ibrahim, the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM) said the scale of the illegal cigarette trade at the retail level has reached a critical stage in the country.

26/06/2026

With 6 out of 10 cigarette packs in Malaysia being untaxed contraband, the illicit trade represents a deep structural leak of RM5 billion. This market intelligence highlights the urgent need for sharper policy interventions and strategic enforcement to safeguard the formal economy.

Penjualan rokok seludup di negara ini dilihat semakin membimbangkan apabila sindiket bukan sahaja terus me­nguasai sebahagian besar pasaran tempatan, malah kegiatan itu didakwa berlaku secara terbuka di premis-premis runcit tanpa mengira usia pembeli.

16/06/2026

Raids alone cannot stop Malaysia’s RM5 billion illicit to***co trade.

When a retail worker is arrested, the shop stays open and a new seller takes their place. This structural gap is why 99% of buyers say illicit ci******es remain incredibly easy to get.

To protect our economy, we must target the enabling infrastructure. It is time for a national blacklist that penalizes the business owners and premise operators, not just their replaceable staff.

Read more:

The Wawasanex consumer perception survey published last month puts precise numbers to what many have long observed about Malaysia's illicit cigarette trade.

14/06/2026

The latest reporting season delivered more misses than hits, with weaker-than-expected performances across several sectors. In his latest StarBiz Malaysia | Business & Economy column, DARE CEO Pankaj C. Kumar shares his views on earnings trends and the challenges facing growth ahead.

Read more: https://www.thestar.com.my/business/insight/2026/06/13/muted-1q26-weaker-growth-ahead

14/06/2026

Why aren't some Malaysian stocks getting enough attention?

The conversation explores issues surrounding visibility among listed companies, as well as the role of the Securities Commission Malaysia's MY Value Up initiative.

Listen here: https://www.bfm.my/content/podcast/why-arent-some-malaysian-stocks-getting-enough-attention

The Securities Commission has flagged a growing visibility problem among listed companies on Bursa Malaysia, with some firms lacking dedicated investor relations teams and some receiving no analyst coverage at all. Business commentator Pankaj C Kumar shares his view on the new SC initiative, the MY....